As per Paychex, Inc. (NASDAQ:PAYX)’s news release on 2016-07-07, its shareholders will get cash dividend of $0.46 per share. The recent press release updated on the record date and payout date, which stands at 2016-08-01 and 2016-08-25, respectively.
The stock will commence trading ex-dividend from 2016-07-28, until, which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Paychex, Inc. (NASDAQ:PAYX) disbursed $0.46 in dividend compared to distribution of $0.46, a year ago.
It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 10.5263%.
The sell-side market professionals who track the firm’s financial and technical parameters have estimated Paychex, Inc. (NASDAQ:PAYX) to attain a price target of $50.818. It is an average estimate figure given by 11 analysts tracking the stock. The estimates disclosed that the stock can move up on the chart and hit a high of $63. The low price range is set at $40 for next year while the arithmetic mean is seen at 3.46.
Eyeing Earnings Paychex, Inc. (NASDAQ:PAYX) is likely to post quarterly numbers around 2016-10-05 for the quarter ending 2016-08-31. The quarterly EPS projection is set at $0.57 for the period ending on 2016-08-31.
In last quarter ended 2016-05-31, Paychex, Inc. (NASDAQ:PAYX) earnings came at $0.49 suggesting a deviation of $0. The brokerages targeted EPS of $0.49 for the quarter.
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